Being the second largest Eastern European country after Poland regarding its surface area and population Romania has experienced important developments since 1999. In addition to liberalization in economy and finance sector, the laws supporting the private property entered into force, important regulation arrangements have been made regarding privatization of public institutions. Romania attaches importance to developing its commercial relationship with Russia, Turkey and Bulgaria.

While Romania advances in economic and politic areas towards membership of NATO in 2004 and prospective EU membership in 2007, with its geographical vicinity has an important potential for Turkish businessman. This country, with its various natural resources, productive agricultural lands and touristic potential presents opportunities to investors with its free zones as well. In these regions, while availabilities for long term rent and leasing are provided, there are a large number of Turkish companies doing business in Romania.

While foreign citizens do not have the right to land property ownership, ownership right is given at company founding phase to promote investments. The government provides facility to foreign investments for the regions which are open to development under the chapter ‘disadvantaged regions’. There is currently ro-ro transportation between Turkey and Romania.   

What can be Done?
In early 1990’s bakers were leading the Turkish entrepreneurs who went to Romania. While these in time founded factories, the Turkish entrepreneurs going to the Romanian market headed towards the services and manufacturing industry. In the restructuring era of the country importance is given to food processing, textile, fur, leather, shoes and light industry machinery production sectors.

It is observed that in the last years the textile has become a sector which attracts the attention of foreign investors. In Romania, there is possibility to export products processed with cheap workforce and low costs. The advantageous position for Romania of the USA and EU quotas is a factor of interest for the foreign investors.

The retail sector displays an important growth, increases are observed especially in the sales of furniture, lighting systems, electrical household appliances, pharmaceuticals, cleaning products and cosmetics. Also the tourism potential of this country is great. Being an attractive center for winter and summer sports with its beaches on the Black Sea cost in addition to historical cities such as Brasov, Lasi, Sibiu it has an important potential regarding health tourism. In this sector, there is a large market potential to realize medium sized and luxury class hotel investments.

Things to be Careful Of
The continuous change of laws in Romania can cause problems.  The issues regarding tax exemption sometimes leaves investors in a difficult position. Especially the loopholes in the trade law give hardships to investors. However the fact those arrangements in compliance with the EU norms are being made may alleviate the disturbances in these subjects.